It’s the Small Things: Food and Beverage Trends
From plant-based diets to increased coffee consumption, here are eight trends shaping the food and beverage industry.
1. Global Consumption Is Nothing to Wine About
The value of global wine consumption is set to hit a record $224.5 billion by 2021, spurred by growth in the United States and China, two of the world’s largest wine markets, according to a joint report by Vinexpo and IWSR. —The Drinks Business
2. Farm-to-Table-to-Big Business
The “eat local” and farm-to-table philosophies have taken hold of the food industry. From 2007 to 2017, the number of farmers markets in the United States doubled to more than 9,000. —Forbes
3. Where’s the Beef?
Nearly 40 percent of Americans are attempting to incorporate more plant-based foods in their diets, and 23 percent say they want to see more plant-based proteins in stores, according to a Nielsen report. —Nation’s Restaurant News
4. The Best Part of Waking up
The share of Americans who have consumed coffee in the past day has reached its highest level in the past six years—a whopping 64 percent—according to a report from the U.S. National Coffee Association.—Roast Magazine’s Daily Coffee News
5. Got Non-Dairy Milk?
Non-dairy milk sales in the United States grew by 61 percent over a five-year period, reaching $2.11 billion in 2017, according to research from Mintel. They’re still dwarfed by the $16.12 billion dairy milk market, a segment whose sales have slipped 15 percent since 2012. —FoodBev Media
6. Point, Click and Eat
Nearly half of U.S. consumers have purchased groceries online in the past three months. Of millennials surveyed, 61 percent say they ordered consumer packaged goods online during the period, compared with 55 percent of Gen Xers. —Forbes
7. Meal Kits Deliver Delicious Sales
Sales in the meal kit delivery industry reached $5 billion in 2017, according to a report from Packaged Facts. Nearly all current meal kit subscribers said they still use the company from which they originally began ordering. —Progressive Grocer
8. Safety First … Somewhat
Americans are less confident in their food’s safety. In 2017, 61 percent said they were at least somewhat confident in the safety of the food supply, down from 66 percent in 2016, according to a survey from the International Food Information Council Foundation. —RSM
This edition of “It’s the Small Things” originally appeared in the September/October 2018 issue of Middle Market Growth. Find it in the MMG archive.
Larry Guthrie was formerly the director of communications and marketing for ACG Global and a regular contributor to Middle Market Growth.
